PubMatic, Inc. (NASDAQ:PUBM) Shares Bought by Fmr LLC

Fmr LLC grew its position in PubMatic, Inc. (NASDAQ:PUBM) by 201.6% during the third quarter, Holdings Channel reports. The firm owned 4,053 shares of the company’s stock after acquiring an additional 2,709 shares during the period. Fmr LLC’s holdings in PubMatic were worth $60,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently modified their holdings of PUBM. Millennium Management LLC purchased a new stake in PubMatic in the second quarter valued at approximately $6,582,000. Acadian Asset Management LLC boosted its holdings in PubMatic by 28,255.4% in the second quarter. Acadian Asset Management LLC now owns 291,493 shares of the company’s stock valued at $5,915,000 after purchasing an additional 290,465 shares during the last quarter. Renaissance Technologies LLC grew its position in PubMatic by 28.8% during the 2nd quarter. Renaissance Technologies LLC now owns 1,188,700 shares of the company’s stock worth $24,142,000 after purchasing an additional 265,700 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of PubMatic by 122.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 434,867 shares of the company’s stock valued at $6,466,000 after buying an additional 239,406 shares during the last quarter. Finally, Cubist Systematic Strategies LLC lifted its holdings in shares of PubMatic by 54.4% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 264,988 shares of the company’s stock valued at $5,382,000 after buying an additional 93,327 shares during the period. 64.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PUBM has been the topic of several analyst reports. Macquarie reaffirmed a “neutral” rating and set a $19.00 target price on shares of PubMatic in a report on Thursday, November 14th. Evercore ISI raised their price objective on shares of PubMatic from $20.00 to $22.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 13th. Finally, Scotiabank started coverage on shares of PubMatic in a research note on Thursday, December 5th. They issued a “sector perform” rating and a $17.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.13.

PubMatic Price Performance

Shares of PUBM stock opened at $15.37 on Wednesday. PubMatic, Inc. has a 1-year low of $13.18 and a 1-year high of $25.36. The company has a market cap of $734.18 million, a price-to-earnings ratio of 49.58 and a beta of 1.40. The stock has a 50 day simple moving average of $15.70 and a 200-day simple moving average of $16.96.

Insider Buying and Selling

In other PubMatic news, Chairman Amar K. Goel sold 3,889 shares of the business’s stock in a transaction that occurred on Thursday, October 3rd. The stock was sold at an average price of $14.31, for a total transaction of $55,651.59. Following the completion of the sale, the chairman now directly owns 7,935 shares in the company, valued at approximately $113,549.85. The trade was a 32.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Steven Pantelick sold 12,831 shares of the firm’s stock in a transaction that occurred on Thursday, October 3rd. The shares were sold at an average price of $14.31, for a total value of $183,611.61. Following the completion of the transaction, the chief financial officer now owns 22,506 shares in the company, valued at approximately $322,060.86. This trade represents a 36.31 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 115,459 shares of company stock valued at $1,751,886. 2.90% of the stock is owned by corporate insiders.

PubMatic Company Profile

PubMatic, Inc, a technology company, engages in the provision of a cloud infrastructure platform that enables real-time programmatic advertising transactions for digital content creators, advertisers, agencies, agency trading desks, and demand side platforms worldwide. Its PubMatic SSP, a sell-side platform, used for the purchase and sale of digital advertising inventory for publishers and buyers.